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Article #21453

SALES TAX ON USED CARS

#21453
From: john.cosimano
Date: Tue, 05 Apr 1994 14:47
22 lines
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I'm sure this isn't the appropriate newsgroup, so please re-direct me if
necessary. Please, no flames...

Anyhow, I have inherited a car and will be taking possission of it rsn. It
belonged to my grandfather who recently passed away. The car went to my mother
and her accountant suggested she sell it to me for a dollar - to avoid
inheritance taxes, and other IRS hassles, I presume. I also figured that I'd
save sales tax when I register the thing at MVA. So a friend tells me that MVA
will not allow one to do this. It seems people understate the price paid for a
used car to save on sales tax. Imagine that... 8-). The MVA, my friend says,
will collect sales tax on the blue book value of the vehicle, if it is sold for
less than blue book. 

Does anyone who lives in Maryland know this to be true? Are there any legal
loopholes around this?

Please respond directly to jcosimano@his.com, as I don't read this group
regularly.

Thanks,
John
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From: john.cosimano@his.com
Subject: SALES TAX ON USED CARS
Message-ID: <9404051447.A9816wk@his.com>
Organization: Heller Information Services, Inc., Rockville MD
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Date: Tue, 05 Apr 94 14:47:58 
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